Petrol, Diesel prices jump sharply again

April 24, 2026 (MLN): The government has raised the prices of petroleum products, increasing petrol and high-speed diesel (HSD) by Rs26.77 per litre for the week starting April 25, according to a notification issued by the Petroleum Division.

Following the revision, petrol is now priced at Rs393.35 per litre, while HSD stands at Rs380.19 per litre.

Previously, Prime Minister Shehbaz Sharif had resisted multiple proposals to raise prices despite rising international rates. However, on April 2, Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb announced a sharp increase, 43% in petrol and 55% in HSD, alongside a targeted subsidy plan.

A day later, the prime minister reduced the petroleum levy by Rs80 per litre, bringing petrol prices down to Rs378. Further relief followed on April 10, when petrol and diesel prices were cut by Rs12 and Rs135 per litre, respectively.

In the previous review, diesel prices were reduced by Rs32.12 per litre, while petrol prices remained unchanged before the latest upward adjustment.

Petrol, widely used in private vehicles, motorcycles, and rickshaws, directly impacts the budgets of middle and lower-income households. Meanwhile, HSD, primarily consumed by heavy transport and power generators, influences freight costs and broader inflation.

The weekly price adjustments come amid volatility in global oil markets triggered by the recent US-Israel conflict with Iran, which disrupted supply chains due to the temporary closure of the Strait of Hormuz.

Since the conflict began on February 28, domestic fuel prices have seen significant fluctuations. On March 6, the government implemented a steep increase of Rs55 per litre, followed by austerity measures announced days later.

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